Final answer:
The first step after reading the work in preparing a research-based literary analysis is to develop a working thesis, which is essential for guiding further research and providing focus for the essay.
Step-by-step explanation:
After carefully reading the original work for a research-based literary analysis, the first step you should do is develop a working thesis for your paper. A working thesis serves as a preliminary statement of your analytical standpoint and will guide your research and writing. It is subject to revision as you delve deeper into the text and your analysis progresses. This tentative thesis is crucial as it will come from the elements within the text that you choose to focus on and analyze, including themes, patterns, or literary devices.
Developing a working thesis aligns with the process of engaging with the literature and forming your own ideas before integrating outside materials into your analysis. It helps in identifying a direction for your research and ensuring that your paper has a clear argument or focus. Therefore, the initial development of a thesis is an integral part of the prewriting exercise that precedes detailed research and the drafting of your literary analysis essay.